Sky News host Chris Smith says there is a “backflip on the way” from China as they look to end a two year ban on Australian coal.
“The Chinese government spat the dummy, as you'll recall, because we demanded a global investigation into the origins of COVID-19,” he said.
“But the power shortages China suffered from last winter, has meant they may need our help in coming months.”
Mr Smith said China “has some challenges” to contend with as Beijing is still forcing harsh restrictions and lockdowns on its citizens and are limiting spending.
“Resource costs are spiking following Russia's invasion of Ukraine and officials are looking to avoid a repeat of last year's power disruptions,” he said.
“So while it's best to lower our expectations when it comes to Beijing the market has heard the whisper and resource stocks have spiked.”
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